Earnings are back in the driver's seat on Thursday, with a slate that runs from consumer staples and coffee to megacap tech, industrials, and big pharma. For traders and long-term investors alike, the options market offers a clean snapshot of expectations, specifically how far the tape could swing once results and guidance hit, according to market data.
The marquee name on this list is Amazon, but the biggest implied move is saved for the final section as the countdown runs from the calmest setup to the most volatile.
9. Altria Group, Inc. | Mkt Cap: $122B | Implied Move: 3.64%
Altria Group, Inc. (NYSE:MO) reports third quarter of 2026 results before the opening bell.
Wall Street is looking for $1.51 in earnings per share on $5.31 billion in revenue, compared with $1.45 per share on $6.07 billion a year ago. That setup puts the spotlight on margins and mix as investors weigh the durability of cash flows.
Market data show options are pricing in a 3.64% move, the smallest implied swing in this nine-stock watchlist. Even with that relatively muted expectation, it still represents $4.44 billion of market value at stake.
Altria Group's portfolio spans its core smokeable business alongside U.S. Smokeless Tobacco, John Middleton, and newer platforms under Horizon Innovations and Helix Innovations. The stock carries a Hold consensus rating, and the stock is trading above the 180-day average analyst price forecast. Shares have rallied in 2026, up 28.2% year-to-date and trading 6.5% above the 200-day moving average, with the stock sitting about 34% above the 52-week low of $54.70.
8. Merck & Co., Inc. | Mkt Cap: $350B | Implied Move: 3.97%
Merck & Co., Inc. (NYSE:MRK) reports third quarter of 2026 results before the opening bell.
Consensus estimates call for $2.09 in EPS on $17.31 billion in revenue, versus $2.58 on $17.28 billion in the prior-year quarter. With revenue seen roughly steady year over year, investors will be parsing the print for what's driving the expected EPS step-down.
According to market data, the options market is implying a 3.97% move, putting about $13.9 billion of market value at stake given Merck & Co.'s $350 billion market cap.
Merck & Co. sells therapies across cardiometabolic disease, oncology and infectious disease, with its immuno-oncology platform led by Keytruda a major contributor to sales. The stock carries a Buy consensus rating, and the share price sits below the 180-day average analyst price forecast; in October, Barclays reiterated its Overweight rating and raised its price forecast, while RBC Capital reiterated its Sector Perform rating and cut its price forecast. Shares have rallied in 2026, up 33.2% year-to-date and trading 12.4% above the 200-day moving average, leaving the stock about 73% above the 52-week low of $82.01.
7. Bristol-Myers Squibb Co. | Mkt Cap: $125B | Implied Move: 4.58%
Bristol-Myers Squibb Co. (NYSE:BMY) reports third quarter of 2026 results before the opening bell.
The Street is modeling $1.20 in EPS on $12.74 billion in revenue, compared with $1.63 on $12.22 billion a year earlier. That combination, higher revenue but lower earnings, sets up a quarter where investors may focus on profitability and product mix as much as top-line growth.
Market data show options are pricing in a 4.58% move, which equates to roughly $5.72 billion of market value at stake for Bristol-Myers Squibb.
Bristol-Myers Squibb develops and markets drugs across cardiovascular, cancer and immune disorders, with immuno-oncology a key focus. The stock carries a Hold consensus rating, and the 180-day average analyst price forecast is above where the stock trades; in October, Piper Sandler, Wells Fargo, and Cantor Fitzgerald cut their price forecasts. Shares have rallied in 2026, up 15.1% year-to-date and trading 2.1% above the 200-day moving average, with the stock about 44% above the 52-week low of $42.52.
6. Starbucks Corp | Mkt Cap: $117B | Implied Move: 5.84%
Starbucks Corp (NASDAQ:SBUX) reports fourth quarter of 2026 results after the closing bell.
Analysts expect 72 cents in EPS on $9.23 billion in revenue, compared with 52 cents on $9.57 billion in the year-ago quarter. With revenue seen down year over year but earnings expected to rise, the report may hinge on what Starbucks says about pricing, traffic and cost discipline.
Market data show options are implying a 5.84% move, translating to about $6.82 billion of market value at stake based on Starbucks' $117 billion market cap.
Starbucks remains the world's largest coffee brand, with nearly 41,000 cafes across more than 80 countries and a mix of company-operated stores and licensed locations. The stock carries a Buy consensus rating, and shares trade below the 180-day average analyst price forecast; in October, Mizuho, Wells Fargo, and Citigroup cut their price forecasts. Shares have rallied in 2026, up 22.7% year-to-date, trading 2.9% above the 200-day moving average since the 50-day moving average crossed below the 200-day in October, and the stock sits about 31% above the 52-week low of $77.99.
5. Eli Lilly & Co. | Mkt Cap: $1.1T | Implied Move: 5.95%
Eli Lilly & Co. (NYSE:LLY) reports third quarter of 2026 results before the opening bell.
Consensus calls for $6.76 in EPS on $22.61 billion in revenue, compared with $7.02 on $17.60 billion a year ago. The setup points to strong top-line growth expectations, while investors weigh what's driving the modest year-over-year dip in earnings.
According to market data, options are pricing in a 5.95% move. With Eli Lilly & valued at $1.14 trillion, that implies $67.6 billion of market value at stake, the largest dollar figure on this list.
Eli Lilly & develops drugs across neuroscience, cardiometabolic disease, cancer and immunology, and the stock carries a Buy consensus rating; the stock is trading below the 180-day average analyst price forecast. In October, Leerink Partners reiterated its Outperform rating and raised its price forecast, and Cantor Fitzgerald reiterated its Overweight rating and raised its price forecast. Shares have rallied in 2026, up 18.7% year-to-date and trading 17.3% above the 200-day moving average, with the stock about 57% above the 52-week low of $809.63.
4. Amazon | Mkt Cap: $2.7T | Implied Move: 6.64%
Amazon.Com Inc. (NASDAQ:AMZN) reports third quarter of 2026 results after the closing bell.
Wall Street expects $1.96 in EPS on $202.28 billion in revenue, compared with $1.95 on $180.17 billion in the prior-year quarter. With earnings seen essentially flat but revenue expected to climb sharply, investors will be listening for what Amazon.Com says about the balance between growth investments and operating leverage.
Market data show the options market is implying a 6.64% move, which represents about $181 billion of market value at stake given Amazon.Com's $2.73 trillion market cap.
Amazon.Com is the leading online retailer and marketplace for third-party sellers, with revenue also driven by Amazon Web Services and advertising services. The stock carries a Buy consensus rating, and the share price sits well below the 180-day average analyst price forecast; in October, UBS and Morgan Stanley reiterated bullish ratings and raised their price forecasts. Shares have rallied in 2026, up 11.7% year-to-date and trading 4.3% above the 200-day moving average, leaving the stock about 30% above the 52-week low of $196.00.
3. Caterpillar | Mkt Cap: $339B | Implied Move: 6.85%
Caterpillar Inc. (NYSE:CAT) reports third quarter of 2026 results before the opening bell.
The consensus view is $7.08 in EPS on $20.66 billion in revenue, up from $4.95 on $17.64 billion a year ago. That's a sizable year-over-year step-up on both lines, and it puts extra attention on what Caterpillar says about demand across construction, resource industries, and energy and transportation.
According to market data, options are pricing in a 6.85% move, about $23.3 billion of market value at stake for Caterpillar.
Caterpillar is the world's leading manufacturer of construction and mining equipment, engines, turbines and diesel-electric locomotives. The stock carries a Buy consensus rating, and the 180-day average analyst price forecast sits well above where the stock trades; in October, UBS, Wells Fargo, and Oppenheimer cut their price forecasts. Shares have rallied in 2026, up 19.2% year-to-date, trading 10.9% below the 200-day moving average after the 50-day moving average crossed below the 200-day in October, and the stock sits about 33% below the 52-week high of $1073.46.
2. Intel | Mkt Cap: $504B | Implied Move: 8.61%
Intel Corp (NASDAQ:INTC) reports third quarter of 2026 results after the closing bell.
Analysts are forecasting 39 cents in EPS on $16.45 billion in revenue, compared with 23 cents on $13.65 billion in the year-ago quarter. With both earnings and sales expected to improve, the report may come down to whether Intel can reinforce confidence in its trajectory across PCs and data center demand.
Market data show options are implying an 8.61% move, putting about $43.4 billion of market value at stake for Intel.
Intel designs and manufactures microprocessors for global personal computer and data center markets. The stock carries a Hold consensus rating, and shares trade below the 180-day average analyst price forecast; in October, Rosenblatt, Wedbush, and RBC Capital reiterated their ratings. Shares have rallied in 2026, up 138.0% year-to-date and trading 10.6% above the 200-day moving average, though the stock remains about 33% below the 52-week high of $142.35.
1. Sandisk | Mkt Cap: $199B | Implied Move: 8.73%
Sandisk Corp. (NASDAQ:SNDK) reports first quarter of 2027 results after the closing bell.
Consensus estimates call for $46.22 in EPS on $10.64 billion in revenue, compared with $1.22 on $2.31 billion a year ago, a dramatic year-over-year reset that makes this print especially sensitive to any changes in outlook.
According to market data, options are pricing in an 8.73% move, the widest implied swing in this lineup. With Sandisk valued at $199 billion, that implies about $17.4 billion of market value at stake.
Sandisk is one of the five largest suppliers of NAND flash memory semiconductors globally and is vertically integrated, producing most of its flash chips in Japan through a joint-venture framework with Kioxia. The stock carries a Buy consensus rating, and the stock is trading well below the 180-day average analyst price forecast; in October, Cantor Fitzgerald reiterated its Overweight rating and cut its price forecast, while Mizuho reiterated its Outperform rating and raised its price forecast. Shares have rallied in 2026, up 374.1% year-to-date and trading 9.3% above the 200-day moving average, but the stock still sits about 42% below the 52-week high of $2354.39.
